PURPOSE

2.1. Establishment of Procurement Governance The purpose of the procurement policy is to establish procedures for the FODEO for procurement of all goods and services and ensure that all goods and services procured are obtained in cost-effective prices, at the required specifications and quality and are delivered in time. This will be achieved through the following process;

1. Procuring quality goods and services from reliable and well-established Suppliers
2. Effective negotiations with the suppliers to obtain quantity discounts;
3. Locating, evaluating, and developing economical and supply sources for the group through an elaborate vendor prequalification;
4. Continuous investigations on new suppliers and market prices trend goods and services the FODEO continuously requires;
5. Procuring prudently by placing emphasis on competition and selection of vendors whose offers confirms to the terms and conditions as well as the technical requirements and specifications stated on purchase requisitions;
6. Management of stock inventory to provide best service to users;
7. Minimizing the value of stock held to avoid tying funds unnecessarily;
8. Providing timely information to user department and the management on procurement status.